SpaceX's Bitcoin Asset Value Drops to Approximately $545 Million Before IPO, May Face Pressure to Disclose Paper Gains and Losses

Odaily News According to on-chain data platform Arkham Intelligence, SpaceX currently holds approximately 8,285 Bitcoin in its Coinbase Prime custody account, valued at around $545 million at the latest price. This represents a decrease of approximately $235 million from the valuation of about $780 million three months ago. The company has not reduced its holdings during this period. SpaceX is planning to submit a confidential IPO application to the U.S. Securities and Exchange Commission (SEC) as early as March, aiming to go public in June with a potential valuation exceeding $1.75 trillion and a fundraising scale of up to $50 billion. If successful, this would surpass the $29 billion IPO record set by Saudi Aramco in 2019. Data shows that the company's Bitcoin holdings have remained relatively stable at around 8,300 BTC since early 2026. However, due to the pullback in BTC price, the book value has experienced significant fluctuations. At the end of 2021, its BTC holdings peaked at nearly $2 billion, then declined during the 2022 bear market, and have fluctuated between $400 million and $800 million over the past two years.

Market observers point out that once the S-1 filing is submitted, SpaceX will need to disclose its exposure to related crypto assets. Future financial reports may also reflect the risk of paper gains and losses caused by Bitcoin price volatility. Tesla has previously drawn market attention multiple times due to similar paper value fluctuations. However, on-chain data does not indicate any active trading behavior by SpaceX. Compared to Tesla, which has engaged in buying and selling operations, SpaceX appears to favor a long-term holding strategy. (CoinDesk)